UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act
Date of Report (Date of earliest event reported): May 20, 2008
TRANSCONTINENTAL REALTY INVESTORS, INC.
(Exact Name of Registrant as Specified in its Charter)
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| Nevada
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001-09240
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94-6565852 |
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(State or other
jurisdiction of incorporation)
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(Commission
File No.)
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(I.R.S. Employer
Identification No.) |
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1800 Valley View Lane, Suite 300
Dallas, Texas
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75234 |
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| (Address of principal executive offices)
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(Zip Code) |
Registrant’s telephone number, including area code 469-522-4200
Check the appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the Registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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| Item 5.02. |
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Departure of Directors or Certain Officers; Election of Directors; Appointment of
Certain Officers; Compensatory Arrangements of Certain Officers |
(b) On
May 20, 2008, Gene S. Bertcher, Executive Vice President and Interim Chief Financial
Officer of Transcontinental Realty Investors, Inc. (the “Company” or the “Issuer” or “TCI”),
ceased to be
the Interim Chief Financial Officer of the Company when David R. Fletcher was elected by the
Board of
Directors of the Company as Executive Vice President and Chief Financial Officer of the
Company. See subpart (c) below.
(c) Effective May 20, 2008, the Board of Directors of the Company appointed David R.
Fletcher, age 48, Executive Vice President and Chief Financial Officer of the Company.
Previously from
April 2007 to March 2008, Mr. Fletcher was Executive Vice President and Chief Financial
Officer of a
wholly owned subsidiary of Tarragon Corporation, a leading mixed-use developer of real estate
with a focus
on for rent and for sale multi family housing, which has its common stock listed and traded on
the NASDAQ.
Prior thereto from November 2005 to June 2006, Mr. Fletcher was Senior Vice President and
Chief Financial
Officer of Focus Property Group, a privately held developer of residential master-plan
communities; from
March 2003 to November 2005, Mr. Fletcher was Chief Executive Officer of Hawk Eye Capital,
LLC, a
privately held management consulting firm; from March 2000 to February 2003, he was Chief
Financial
Officer of Fuel Links, Inc., a privately held software development company and for more than
five years prior
thereto was employed as a senior manager with Deloitte & Touche LLP and as a commercial real
estate loan
officer with Bank of America. Mr. Fletcher holds a masters in Business Administration in
Finance from the
McCombs Graduate School of Business at the University of Texas at Austin, graduating as a Sord
Scholar.
Also
on May 20, 2008, the Board of Directors of the Company appointed Gene S. Bertcher, age 59,
Chief Accounting Officer of the Company; Mr. Bertcher remains Executive Vice President of the
Company having been elected to that office on February 25, 2008. Mr. Bertcher is (and will continue
to be) President and Chief Financial Officer of New Concept Energy, Inc. (formerly CabelTel
International Corporation), a Nevada corporation (“GBR”) which has its common stock listed on the
American Stock Exchange LLC, a position he has occupied since November 1, 2004. From January 3,
2003 until November 1, 2004, Mr. Bertcher was also Chief Executive Officer of GBR. He has been a
certified public accountant since 1973, Mr. Bertcher has been a director since June 1999 (and
was from November 1989 to September 1996) of GBR. Until November 1989, Mr. Bertcher was a partner
in Grant Thornton LLP having served as the
Chairman of its National Real Estate and Construction Committee.
No family relationship exists between Messrs. Fletcher or Bertcher and any director or
executive officer of the Company.
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